Washington--Apr 27--The International Monetary Fund will "certainly" sell
some gold in order to finance the expansion of the program to benefit
indebted countries, IMF Managing Director Michel Camdessus said today. He
said that support for gold sales was practically unanimous among the
Interim Committee members, but said that an agreement had yet to be reached
over the volume of gold to be sold. By David Warwick, Bridge News, Story
.29465
Washington--Apr 27--International Monetary Fund Deputy Managing Director
Alassane Outtarra today said the proposed IMF sale of some of its gold
holdings to finance debt relief for highly indebted poor countries
shouldn't be done in a hasty way. "It's important" to spread such gold
sales over "a reasonable period," Outtarra told reporters on the sidelines
of the IMF spring meetings here. By Anne Maitrepierre, Bridge News, Story
.26251
Huaraz, Peru--Apr 27--A move by the International Monetary Fund to sell
gold would be "totally inconsistent" with its policy of promoting
development in poor countries, said Toronto-based Barrick Gold Corp chief
executive officer Randall Oliphant. He also said Barrick was hopeful that
drilling in the company's newly-acquired property in Tanzania could double
reserves there by year end. Reserves at the just-inaugurated Pierina mine
have reached 8 million ounces and production this year will reach 835,000
ounces, the official said.By Mary Powers, Bridge News, Story .22866
Moscow--Apr 28--Russia's state savings bank Sberbank has concluded more than
80 contracts for the purchase of more than 20 tonnes of gold from domestic
producers this year to date, the bank said in a press statement today. By Vadim
Kotikov, Bridge News, Story .13517
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